WTI PRZ on 4H chart
WTI
OIL has price reversal zones
i am waiting for a confirmation to take a position.
XTIUSD trade ideas
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USOIL Will Move Lower! Sell!
Here is our detailed technical review for USOIL.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 72.837.
Considering the today's price action, probabilities will be high to see a movement to 68.454.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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USOIL - high placed? holds or not??#USOIL... perfect move as per our analysis and mentioned resistance.
keep close that resistance region guys because if market hold it in that case we can expect a drop from here.
dont be lazy here.
good luck
trade wisely
CRUDE OIL ( WTI )Why did I take this trade. Price respected our trendline channel for sometime on high TFs. However, on the 30 M, we saw a bullish engulfing that changed the manner of the long term trend. Executed trade on 1H and currently in profit
03.01.25 Morning ForecastPairs on Watch -
FX:CADCHF
TVC:USOIL
A short overview of the instruments I am looking at for today, multi-timeframe analysis down to what I will be looking at for an entry. Enjoy!
USOIL Trade SetupHello,
Trend-Based Analysis. Buy the Dips, Sell The Rallies, Also Following the Trend. Let's see where the Price Action takes us, Riding the wave. Potential trade setups based on trend momentum.
Technical analysis based on trend identification and momentum, Looking for high-probability setups within the prevailing trend.
Analyzing the current market trend and potential future price movement. Focusing on risk management and reward-to-risk ratios.
Details is Mentioned in Chart, Read carefully.. .
WTI/USD on daily
"As mentioned in my recent analysis, the price of oil could potentially surpass $75."
Oil Heading Higher in the Short TermOriginally, I thought this move up would be short and target somewhere along the 50 % area of the previous impulse down but it has ended up proving me wrong. Looking at how aggressive the rally has been since Dec 26 we can take an interpretation that wave B/X took the form of a triangle. This allows us to recalculate our likely zone for this move to end at the price of 74.75 which would give us equality in distance travel between waves W and Y, Of course, the price could push past this area, and for that purpose Im considering the absolute point of invalidation for this scenario at 79.10 and granted there is a wide margin from the current price to the indicated protective stop but if the move down gets going there is reason to believe we will go down to the 65 dollar mark and past it, still affording a favorable risk-reward. I have still not taken a position but will update when it looks more favorable to do so.
Happy Trading :)
Oil shortOil has been ranging since September, this week it broke out to the up side. Price has just reached one of my sell zones.
I have been aggressively trying to short oil and I was stopped out both times.
There is enormous move to the down side on oil and I want in. The first signs of reversal are there, we just need price to develop and violate structures on the lower timeframes.
WTI Light Crude Oil (18H) – Technical Analysis1️⃣ Bullish Triangle Pattern
The chart forms a bullish triangle, with higher lows and a descending trendline. This indicates potential accumulation before an upward breakout.
2️⃣ Strong Support Level
The $68-$69 support zone, established in September, has held firm, showing strong buying interest and rejecting further downside.
3️⃣ Broken Resistance Line
The descending trendline has been broken, signaling a shift in momentum toward buyers.
4️⃣ Potential Uprise
The breakout suggests upside potential toward:
🟢 Target 1- $71.23
🟢 Target 2-$73.00
🟢 Target 3-$77.54
Got questions? Let me know!
Crude oil for buy.Price brokeout of the consolidation, wait for retest or a pullback with a bullish candlestick pattern.
"USOIL Alert!"USOIL Alert!
Pattern confirmed: Accumulation, Manipulation, Distribution
Get ready for a BIG DROP!
Instant Sell Recommendation: 7.83 RR
Don't miss this trading opportunity!
Oil UpdateOil Update
This is the bottom and this is the top for today
We may see more upside but if the red line is breached and in the worst case we may see more downside to the green line area
Oil on the long term as an investment is the $81 area
You can be an investor or a speculator
Exception
CL - Crude Oil confirmation and unwritten potentialHi guys, we are following up with probably one of our favourite assets to participate in. You guessed it right it's CL. Currently the Crude Oil is sitting in a very specific range , which has been traded since late August , until the end of October where we saw a big spike and got out of boundaries due to the escalation in Iran and Israel, of which after the cooling off we got back into the range of 73.00 as a strong resistance line , and 67.00 as a strong support. This range has made a lot of traders stay away from CL, but I do believe that there is potential to be caught.
Current analysis and entry :
Entry today at a level of 68.90 , with two targets of take profit :
Target 1: 71.52
Target 2: 72.92
Now this is the bold move if you don't want to miss out on the current opportunity and your Risk Tolerance is on the higher end.
If you want to be more protective and your Risk Tolerance is on the lower side, you can get a Pending Order at the level of 66.61 , and then enter 3 follow up targets
Target 1: 68.50
Target 2: 71.05
Target 3: 72.45
P.S. My current opinion is to go with a current entry because the missing out of opportunity is too high ,hence we are seeing more tensions in Israel&Gaza conflict, additionally the tightening of the situation in Ukraine&Russia adds more Fundamental Value, towards a swing on an upside of the Crude Oil.
Do let me know in the comments below or in my community what is your thought process and opinion about our favourite Black Gold!
Happy Trading!
WTI OIL Break-out or rejection strategy.WTI Oil (USOIL) gave us an excellent buy signal last time (December 27, see chart below) that produced a Bullish Leg straight to our $72.80 Target:
The price is right now above Resistance 2 and almost at the top (Higher Highs trend-line) of the Channel Up. Having completed a +6.65% rise (which was the previous Bullish Leg), it is now highly likely to start seeing a reversal to a Bearish Leg. Especially since the 1D RSI is testing the October 07 2024 High.
As long the price gets rejected below the top of the Channel Up, we will be bearish, targeting $70.50 (above the 0.618 Fib and the 1D MA50). If the price breaks and closes a 1D candle above the Channel Up, we will take the small loss and switch to a buy, targeting the 1D MA200 (orange trend-line) at $75.15.
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